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Edelweiss Alternatives acquires IT Park in Bengaluru for over Rs.1,500-cr

Economic Times   MFAR Manyata Techpark  

Edelweiss Alternatives has acquired MFAR Developers’ 1.1-million sq ft information technology park, MFAR Manyata Techpark , in Bengaluru for over INR 1,500 crore.Edelweiss Alternatives has bought this asset through its rental fund, which is in the process of raising INR 5,000 crore.MFAR Manyata Techpark is a 1.6 million sq ft commercial complex with four independent towers within the large ecosystem of Embassy Manyata built on 12.5 acres. The current deal includes three out of the four towers in the complex.The entire Embassy Manyata is a development spread over more than 108 acres. The other owners of the project include Embassy REIT. The property is fully managed by MFAR Group and is currently more than 90% leased.